The Taipei Prosecutor's Office on March 21 began an investigation into possible insider trading before Powertech Technology (PTI) made its acquisition of a controlling stake in Greatek Electronics.
PTI on December 15, 2011 announced plans to buy a majority stake in Greatek, which specializes in entry-level and mid-range semiconductor packaging and testing.
Greatek's share price on the Taiwan Stock Exchange (TSE) saw an unusual rise on December 13 and 14 with trading volumes on a single day reaching three to 4.3 million shares. The closing price of Greatek's shares soared 7.5% in the two days prior to the companies' announcement.
Greatek said that the company would assist the investigation by providing relevant documents, and claimed that its operations should not be affected by the incident.
Article translated by Jessie Shen
